Halifax Scrapping £5/Cinema ticket Rewards.

MSE_Molly_G

@PRAISETHESUN Hi! You're correct – Halifax confirmed this to us directly. We were also told that Halifax would be getting in touch with all customers about the changes from July.

granta

MSE_Molly_G said:

@PRAISETHESUN Hi! You're correct – Halifax confirmed this to us directly. We were also told that Halifax would be getting in touch with all customers about the changes from July.

Well that's some good news in light of a negative change.
Being paid the total sum of £5 rewards X multiple accounts in October without having to jump through hoops is a small silver lining!

ThePirates

Hypothetically: So I have 3 accounts with rewards due to finish in May '26 so in October I'll get 3 x 8 x £5 = £120?

anna42hmr

MSE_Molly_G said:

@PRAISETHESUN Hi! You're correct – Halifax confirmed this to us directly. We were also told that Halifax would be getting in touch with all customers about the changes from July.

at least that's some good news was wondering how they would handle that given it states that the rewards selected are for a year.  mine are not due to expire to 31 march 2026 so will be good if we do get the rest as a lump sum

PRAISETHESUN

ThePirates said:

Hypothetically: So I have 3 accounts with rewards due to finish in May '26 so in October I'll get 3 x 8 x £5 = £120?

That's my understanding, although I suspect it'll likely be £40 into each account, rather than £120 into one of them.

Eco_Miser

PRAISETHESUN said:

MSE_Molly_G said:

Hi everyone. We've published a news story on this: Halifax axes £5 monthly cash and more on Reward current account – should you ditch it? Thanks!

What happens to my existing rewards?

These so-called 'Reward Extras' (£5 cash, cinema tickets or digital magazines) last for 12 months from the time you selected them. If you added one to your account before Tuesday 17 June, when Halifax pulled them, here's what you need to know:

• Until 30 September 2025, you'll get your monthly reward as normal, provided you meet the usual criteria. So you'll need to either spend £500+ on your debit card or keep £5,000+ in the account every day (depending on what you chose when setting up the reward).

• After that, if you're still due any rewards, you'll get them ALL automatically by the end of October. You won't have to meet any of the usual monthly criteria; all you need to do is keep your account open until you get what you're due. Here's how it will work:
  

  - If you were signed up for the £5 cash: This will be paid to you in one chunk. For example, if you selected this reward in December 2024, you'll be paid £15 – £5 a month for October, November and December 2025.
  
  - If you were signed up for the cinema tickets: These will be sent to you via email and you'll have 12 months to use them.
  
  - If you were signed up for the digital magazines: You'll get a cash payment of £5 for each of the remaining months instead.

So summarising, in July, August, September, keep spending the £500, and get the £5 (or ticket) reward for the previous month. In October, no need for spending, get September's fiver, plus £5 (or ticket) for each month October to the anniversary of signing up.

pokemaster

Looks like have to run the £1,500 through the accounts still though because of the £3 fee?

danny13579

pokemaster said:

Looks like have to run the £1,500 through the accounts still though because of the £3 fee?

I would say so, but that can be done at the start of the month in seconds. Or you can downgrade your Reward Current Accounts to Current Accounts after you get your remaining £5s in October.

friolento

danny13579 said:

pokemaster said:

Looks like have to run the £1,500 through the accounts still though because of the £3 fee?

I would say so, but that can be done at the start of the month in seconds. Or you can downgrade your Reward Current Accounts to Current Accounts after you get your remaining £5s in October.

You’d still want to move some money through the accounts even if you downgrade them, to keep them alive for Yougov purposes. Not every month but just once or twice a year.

I think I will retain them as Reward accounts, just on the off chance that they will offer some proper rewards in future. I have 5, and don’t expect I’d ever get this many again

PRAISETHESUN

Eco_Miser said:

PRAISETHESUN said:

MSE_Molly_G said:

Hi everyone. We've published a news story on this: Halifax axes £5 monthly cash and more on Reward current account – should you ditch it? Thanks!

What happens to my existing rewards?

These so-called 'Reward Extras' (£5 cash, cinema tickets or digital magazines) last for 12 months from the time you selected them. If you added one to your account before Tuesday 17 June, when Halifax pulled them, here's what you need to know:

• Until 30 September 2025, you'll get your monthly reward as normal, provided you meet the usual criteria. So you'll need to either spend £500+ on your debit card or keep £5,000+ in the account every day (depending on what you chose when setting up the reward).

• After that, if you're still due any rewards, you'll get them ALL automatically by the end of October. You won't have to meet any of the usual monthly criteria; all you need to do is keep your account open until you get what you're due. Here's how it will work:
  

  - If you were signed up for the £5 cash: This will be paid to you in one chunk. For example, if you selected this reward in December 2024, you'll be paid £15 – £5 a month for October, November and December 2025.
  
  - If you were signed up for the cinema tickets: These will be sent to you via email and you'll have 12 months to use them.
  
  - If you were signed up for the digital magazines: You'll get a cash payment of £5 for each of the remaining months instead.

So summarising, in July, August, September, keep spending the £500, and get the £5 (or ticket) reward for the previous month. In October, no need for spending, get September's fiver, plus £5 (or ticket) for each month October to the anniversary of signing up.

That's my understanding, yes.

danny13579 said:

pokemaster said:

Looks like have to run the £1,500 through the accounts still though because of the £3 fee?

I would say so, but that can be done at the start of the month in seconds. Or you can downgrade your Reward Current Accounts to Current Accounts after you get your remaining £5s in October.

I'd be wary about downgrading too early, just on the off chance they use it as an excuse to not pay your remaining rewards in October. 

Personally I'm going to leave my accounts as is - I've automated the monthly pay in with standing orders, and it just means I no longer need to make the monthly debit card transactions.